2001-03-20 15:39 MT - New Listing
The company's initial public
offering prospectus dated Dec. 11,
2000, as amended March 2, 2001, has
been filed with and accepted by the
Canadian Venture Exchange and filed
with and receipted by the British
Columbia Securities Commission on
March 5, 2001, pursuant to the
provisions of the British Columbia
Securities Act.
The gross proceeds received by the
company for the offering were
$2-million (U.S.). The company is
classified as a manufacturer of
industrial coatings and composite
materials company.

Immediately prior to commencement of
trading, a cross will be reported
through the facilities of the
Canadian Venture Exchange to reflect
the prior distribution of two
million common shares at 75 U.S.
cents per share, sold pursuant to a
prospectus dated Dec. 11, 2000, as
amended March 2, 2001.

A distribution was also made for
344,781 units at 75 U.S. cents per
unit that was distributed by the
company to purchasers in the United
States.

Commence date: At the open March
21, 2001, the common shares and
share purchase warrants will
commence trading on the CDNX

Jurisdiction: State of Colorado
Capitalization: 50 million common
shares with no par value of which
7,116,667 common shares are issued
and outstanding
Escrowed shares: 3.7 million common
shares
Transfer agent: Computershare
Investor Services
Symbol: IXC.U
Cusip No: 456456 10 2

Sponsor: Thomson Kernaghan & Co.
Limited
Agent: Thomson Kernaghan & Co.
Limited
Cap. on warrants: 2,334,781 Series
A warrants issued and outstanding
Each Series A share purchase warrant
entitles the holder to purchase one
common share at $1 (U.S.) in the
first year and at $1.25 (U.S.) in
the second year.
Warrant symbol: IXC.WT.U
Warrant Cusip No: 456456 11 0

Agent's warrants: 200,000 units and
the agent is to receive 125,000
units for acting as lead agent. The
units have the same terms as
described above.

The CDNX has been advised that the
company's prospectus dated Dec. 11,
2000, as amended March 2, 2001, has
been receipted by the British
Columbia Securities Commission on
March 5, 2001. The prospectus
qualifies the issuance of 2,357,000
shares, which were issued pursuant
to a private placement of special
warrants.

For further information, please
refer to the company's prospectus
dated Dec. 11, 2000, as amended
March 2, 2001.